Denver Homeowners Could Save Up To $330K By Downsizing: Study

DENVER, CO — Owners of 4-bedroom homes in Denver could save anywhere from $159,000 to $330,000 by downsizing to a 2-bedroom house, a study has found.

Self-storage search website STORAGECafé ranked the potential savings of downsizing in the United States' 20 largest metro areas, and the Denver-Aurora-Lakewood metro area came in at No. 15.

A 4-bedroom home in the Denver-Aurora-Lakewood metro area is valued at around $630,000, while a 2-bedroom costs just under $420,000, meaning homeowners could save around $158,500 by making the switch, the study found.

"However, when looking at downsizing city-to-city between the metro’s main cities, there’s potential for higher savings," STORAGECafé's website reads. "Downsizing from a 4-bedroom home in the city of Denver to a 2-bedroom one in Aurora gets homeowners over $330,000 in savings, while relocating to a smaller home in Lakewood can save more than $210,000."

Savings in the Denver-Aurora-Lakewood metro area are most similar to those in the Chicago-Naperville-Elgin area, which came in at No. 14 with savings at $158,900.

Residents of the San Francisco-Oakland-Berkeley metro area stand to save the most by downsizing, the study found, at $406,600.

STORAGECafé's complete study results can be found here.